Check my wRiverside Inc. makes one model of wooden canoe. Partial information for it follows:Number of Canoes Produced and Sold505655805Total costsVariable costsFixed costsTotal costsCost per unitVariable cost per unitFixed cost per unitTotal cost per unit$ 71,205149,500$220,705???Required:1. Complete the table.3. Suppose Riverside sells its canoes for $506 each. Calculate the contribution margin per canoe and the contribution margin ratio.4. Next year Riverside expects to sell 855 canoes. Complete the contribution margin income statement for the company.Complete his question by entering your answers in the tabs below.Required 1Required 3Required 4Complete the table. (Round your cost per unit answers to 2 decimal places.)Number of Canoes Produced and Sold505655805Total CostsVariable Costs71,205Fixed Costs149,500Total Costs220,705 $0 $Cost per UnitVariable Cost per UnitFixed Cost per UnitTotal Cost per Unit0.002$0.00$0.00< Required 1Required 3>( Prev2 of 4Next >%24%24%24 Riverside Inc. makes one model of wooden canoe. Partial information for it follows:Number of Canoes Produced and Sold505655805Total costsVariable costsFixed costsTotal costs$ 71,205149,500$220,705?Cost per unitVariable cost per unitFixed cost per unitTotal cost per unitRequired:1. Complete the table.3. Suppose Riverside sells its canoes for $506 each. Calculate the contribution margin per canoe and the contribution margin ratio.4. Next year Riverside expects to sell 855 canoes. Complete the contribution margin income statement for the company.Complete this question by entering your answers in the tabs below.Required 1Required 3Required 4Suppose Riverside sells its canoes for $506 each. Calculate the contribution margin per canoe and the contribution marginratio. (Round your contribution margin to the nearest whole dollar and your contribution margin ratio to the nearest wholepercent.)Unit Contribution Marginper canoeContribution Margin Ratio< Required 1Required 4<>

Workings: Variable cost per unit 141 = 71,205 / 505 Fixed cost per unit: 505…

Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 505 655 805 Total costs Variable costs Fixed costs $ 71,205 149,500 $220,705 Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $506 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 855 canoes. Complete the contribution margin income statement for the company.

Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 505 655 805 Total costs Variable costs Fixed costs $ 71,205 149,500 $220,705 Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $506 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 855 canoes. Complete the contribution margin income statement for the company.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Sandy Bank, Incorporated, makes one model of wooden canoe. And, the information for it follows: Number of canoes produced and sold Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit Sandy Bank sells its canoes for $375 each. 450 Required 1 Required 2 $ 69,750 $ 468,000 $ 537,750 Required 3 $ 155.00 1,040.00 $ 1,195.00 650 $ 100,750 $ 468,000 $ 568,750 $ 155.00 720.00 $ 875.00 Complete this question by entering your answers in the tabs below. 800 Required: 1. Suppose that Sandy Bank raises its selling price to $500 per canoe. Calculate its new break-even point in units and in sales 2. If Sandy Bank sells 1,500 canoes, compute its margin of safety in dollars and as a percentage of sales. (Use the new sales pr $500) 3. Calculate the number of canoes that Sandy Bank must sell at $500 each to generate $110,000 profit. $ 124,000 $ 468,000 $ 592,000 $ 155.00 585.00 $ 740.00 Suppose that Sandy Bank raises its selling…
Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 540 690 840 Total costs Variable costs $ 78,300 Fixed costs Total costs 148, 300 $226,600 Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $515 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 890 canoes. Complete the contribution margin income statement for the company. Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Complete the table. (Round your cost per unit answers to 2 decimal places.) Number of Canoes Produced and Sold 540 690 840 Total Costs Variable Costs $ 78,300 Fixed Costs 148,300 Total Costs $ 226,600 $ O $ Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit 0.00 $ 0.00 $ 0.00 n. n. n. %24
Riverside Incorporated makes one model of wooden canoe. Partial information for Number of Canoes Produced and Sold Total costs Variable costs Fixed costs Unit contribution margin Contribution margin ratio Sales revenue Variable costs Contribution margin Fixed costs www Total costs Cost per unit Variable cost per unit $ 210.00 220.00 Fixed cost per unit) Total cost per unit $ 430.00 Riverside sells its canoes for $650 each. Next year Riverside expects to sell 1,000 canoes Required: Complete the Riverside's contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riverside's original data. Note: Round your unit contribution margin and contribution margin ratio to 2 decimal places (i.e. 0.1234 should be entered as 12.34 %) and all other answers to the nearest dollar amount. Net operating income Scenario 1 Raises Sales Price to $750 per Canoe 550 $ $ 115,500 198,000 $ 313,500 $ 210.00 360.00 $ 570.00 750 $ 157,500 198,000 $ 355,500 540.00…
Sandy Bank, Incorporated, makes one model of wooden canoe. And, the information for it follows: Number of canoes produced and sold Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit Required 1 Required 2 Required 3 $ 52,000 $ 180,000 $ 232,000 400 New Break-Even Units Break-Even Sales Revenue $ 130.00 450.00 $ 580.00 Complete this question by entering your answers in the tabs below. Canoes 600 $ 130.00 240.00 $ 370.00
Riverside Incorporated makes one model of wooden canoe. Partial Information for it follows: Number of Canoes Produced and Sold Total costs Variable costs Fixed costs Unit contribution margin Contribution margin ratio Contribution margin Net operating income 550 Scenario 1 Raises Sales Price to $750 per Canoe $ 115,500 198,000 $ 313,500 Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit Riverside sells its canoes for $650 each. Next year Riverside expects to sell 1,000 canoes. Required: Complete the Riverside's contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riverside's original data. Note: Round your unit contribution margin and contribution margin ratio to 2 decimal places (i.e. 0.1234 should be entered as 12.34%) and all other answers to the nearest dollar amount. $ 210.00 360.00 $570.00 750 $ 157,500 198,000 $ 355,500 Contribution Margin Income Statement $ 210.00 264.00 $ 474.00…
Keller Company sells product ZR101 for $25 per unit. The cost of one unit of ZR101 is $18. The estimated cost to complete a unit is $4, and the estimated cost to sell is $6. At what amount per unit should product ZR101 be reported, applying lower-of-cost-or-net realizable value?
Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold Total costs Variable costs Fixed costs Total costs: Cost per unit Variable cost per unit Fixed cost per unit. Total cost per unit Unit contribution margin Contribution margin ratio i Contribution margin Net operating income 550 Scenario 1 Raises Sales Price to $560 per Canoe $ 110,000 99,000 $ 209,000 $ 200.00 180.00 $ 380.00 750 $ 150,000 99,000 $ 249,000 Riverside sells its canoes for $460 each. Next year Riverside expects to sell 1,000 canoes Required: Complete the Riverside's contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riverside's original data. Note: Round your unit contribution margin and contribution margin ratio to 2 decimal places (i.e. 0.1234 should be entered as 12.34%) and all other answers to the nearest dollar amount. Contribution Margin Income Statement $ 200.00 132.00 $ 332.00…
E5-17 (Algo) Determining Cost Behavior, Preparing Contribution Margin Income Statement [LO 5-1, 5-5) Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit Required 1 Required 3 Variable costs Fixed costs 515 $ 72,615 149,300 $ 221,915 Number of Canoes Produced and Sold Total costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $505 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 865 canoes. Complete the contribution margin income statement for the company. Required 4 Total cost per unit 7 7 Complete the table. Note: Round your cost per unit answers to 2 decimal places. $ $ 665 $ 7 515 72,615 149,300 221,915 $ 815 0.00…
Ramada Company produces one golf cart model. A partially complete table of company costs follows: Number of golf carts produced and sold Total costs Variable costs Fixed costs per year Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit Required: 1. Complete the table. 800 1,000 1,200 $ ? $ 600,000 ? 360,000 $ ? ? ? $ 960,000 ? ? ? ? ? ? ? ? ? ? 2. Ramada sells its carts for $1,500 each. Prepare a contribution margin income statement for each of the three production levels given in the table. 4. Calculate Ramada's break-even point in number of units and in sales revenue. Ramada sells its carts for $1,500 each. 5. Assume Ramada sold 450 carts last year. Without performing any calculations, determine whether Ramada earned a profit last year. 6. Calculate the number of carts that Ramada must sell to earn $90,000 profit. Ramada sells its carts for $1,500 each. 7. Calculate Ramada's degree of operating leverage if it sells 1,050 carts. Ramada sells its…
Saved Help Save & Exit St Check my V Sandy Bank, Inc., makes one model of wooden canoe. Partial information is given below. Required: 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $510 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 760 canoes. Prepare a contribution margin income statement for the company. Calculate Sandy Bank's break-even point in units and in sales dollars. 5. Šuppose Sandy Bank wants to earn $68,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places.) Number of Canoes Produced and Sold 420 630 790 Total costs Variable Costs 65,940 Fixed Costs 136,920 Total Costs 2$ 202,860 $ 0 $ Cost per Unit Variable Cost per Unit…
James Company makes flanges for its main product of widgets. The cost of making each widget is as follows: Another company has offered to sell to James Company the flanges for a price of $19.00 each. Should James Company buy the flanges from the other company or continue to make the flanges themselves? Show your computations.
Hermosa, Inc., produces one model of mountain bike. Partial information for the company follows: Number of bikes produced and sold 470 770 930 Total costs Variable costs $ 117,030 $ ? $ ? Fixed costs per year ? ? ? Total costs ? ? ? Cost per unit Variable cost per unit ? ? ? Fixed cost per unit ? ? ? Total cost per unit ? $ 529.75 ? Required:1. Complete the table. 2. Calculate Hermosa’s contribution margin ratio and its total contribution margin at each sales level indicated in the table assuming the company sells each bike for $810. 4. Calculate Hermosa’s break-even point in units and sales revenue.